Pental clears the air

We upgrade our recommendation to "hold" after gaining clarity about the supermarket supplier's capital expenditure program and first-half advertising costs.

After Pental’s (PTL) latest half-year result we had a “sell” recommendation on the stock due to concerns around management’s ability to achieve sustainable earnings growth. We are now upgrading our recommendation to “hold”, with some further clarity around the company’s outlook.  

The stock is certainly not expensive trading on a price-earnings (PE) multiple of 10 and dividend yield of 6 per cent.


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